Analyst Pin-board Banking sector – Update on the money market
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· Accumulated 8M2022, revenue and PBT reached VND 954 billion (+20.2% YoY) and VND 171.4 billion (+18.3% YoY), respectively completing 65.8% and 62.3% of the annual plan. The pharmacy sales channel (OTC) continued to maintain strong growth as it reached 41.7%, while the hospital channel (ETC) grew -2.1% YoY but showed some recovery. · The IMP4 factory was officially announced by the Ministry of Health to meet the EU – GMP standards in 09/2022. This is the factory with the largest total investment capital of IMP, carrying a value of VND 470 billion to produce non-betalactam drugs with the aim of helping IMP penetrate deeper into the ETC channel. · 8M2022, IMP won drug bidding packages worth VND 626 billion (of which 74.5% were Tier 2 drugs), but 50% lower than the VND 1,266 billion in 8M2021. We believe that the hospital delays in the centralized bidding planning process caused a sharp drop in the total value of the package in general and for IMP in particular. August revenue continues to grow strongly Accumulated 8M2022, revenue and PBT reached VND 954 billion (+20.2% YoY) and VND 171.4 billion (+18.3% YoY), respectively completing 65.8% and 62.3% of the annual plan. In which, revenue from self-produced drugs accounted for 97.6% and franchised and purchased drugs accounted for about 2.4%. The pharmacy sales channel (OTC) continued to maintain a strong growth as it reached 41.7%, while the hospital channel (ETC) grew -2.1% YoY but showed some recovery. |
From Q3/2021 and the implementation of social distancing in the Southern provinces, the company did not incur much costs. However the 8M2022 SG&A expenses increased sharply from a low base level of 20% and 47% YoY, leading to a lower PBT growth rate than the revenue growth rate
Imexpharm Corporation is a Vietnam-based company engaged in the pharmaceutical industry. The Company manufactures, imports, exports and trades pharmaceutical products, antiseptics, traditional medicine, medical equipment and supplies, cosmetics, supplemental food and drinks. It is also involved in the provision of packaging services and warehousing services for pharmaceutical storage purposes. In addition, the Company is involved in medicinal herb cultivation.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
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